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Baker & McKenzie and FWP Advise on GFKL Lowell Acquisition of IS Group Management

Austria
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Baker & McKenzie has advised GFKL Financial Services GmbH on its acquisition of IS Group Management GmbH (trading as IS Inkasso Service), an Austrian market leader in third party collections (3PC) with a strong Swiss business presence, from majority shareholder Hannover Finanz and the IS Group’s management, which remains in place after the sale. Fellner Wratzfeld & Partner advised the sellers on the transaction.

GFKL Financial Services is part of the GFKL Lowell Group, a European leader in credit receivables management. The Lowell GFKL Group was created in October 2015 following the merger of UK and German market leaders the Lowell Group and GFKL. This union created one of the largest credit management companies in Europe, which benefits from the backing of global investment company Permira Funds and the Ontario Teachers’ Pension Plan. In Germany GFKL manages a credit volume of EUR 16.4 billion with approximately 950 employees for clients in various industries, including banks, insurance companies, online retailers, and telecommunications companies.

"With this transaction our client adds a third, highly attractive market position in the pan-European credit receivables management,” commented Dusseldorf-based Baker & McKenzie Partner Ingo Strauss. "We were able assist our client in well-rehearsed teamwork by closing the transaction in a timely manner in all relevant jurisdictions." 

Strauss led the Baker & McKenzie team along with fellow Dusseldorf-based Partner Heiko Gotsche. Other members of the team included Vienna-based Partners Wendelin Ettmayer, Andreas Traugott, Marc Lager, Dieter Buchberger, and Christoph Urtz, Vienna-based Associates Stefan Arnold, Lukas Feiler, Katerina Schenkova, Andrea Eigner, Elisabeth Wasinger, Franz Arztmann, and Julia Moser, and Dusseldorf-based Senior Associate Deny Silny. The team was instructed by GFKL Lowell Head of Legal Peter Blaschkowski.

The Fellner Wratzfeld & Partner team included Partners Lukas Flener and Florian Kranebitter.

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